Class 8 Truck Order Season Continues with 31,900 Units in October

ACT Research reports Even though backlogs, in seasonal fashion, are rising, they continue to point to a different market vibe heading into 2024

October preliminary NA Class 8 net orders were 31,900 units, remaining at above-trend levels nominally and seasonally. Complete industry data for October, including final order numbers, will be published by ACT Research in mid-November.

“A strong seasonal factor presses down on ‘real’ orders this month, with seasonal adjustment dropping October’s intake to 25,800 units, still good for the third-best order month in the past 12 months,” shared Kenny Vieth, ACT’s President and Senior Analyst. “The Class 8 backlog should rise by around 3,400 units when full October data are released in mid-November. If those numbers hold, Class 8 backlogs will have ended October at around 165k units.”

He added, “Even though backlogs, in seasonal fashion, are rising, they continue to point to a different market vibe heading into 2024. As we head into 2024, the absence of the large backlog cushion the industry has enjoyed the past two years underscores the importance of seasonal order activity in the coming months.”

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